NEWS COMMENTARY

BlueNalu raises $20 million Series A funding for cell-based seafood

Published:
March 03, 2020
Coverage:
Emerging Ecosystems in Agrifood and Health More...
Activities:
Investment
by Harini Venkataraman
Average importance

This Series A funding round adds some strategic investors like Nutreco and Sumitomo Corporation of Americas, among others, and will help BlueNalu construct a pilot-scale production facility in San Diego for commercial launch in late 2021. Among the cell-based seafood startups, BlueNalu has been showing quite some momentum, with its commercialization strategy and recent partnership with Nutreco. Although cell-based seafood is a fast-growing subcategory within the broader cellular agriculture space, none of the startups have managed to produce meaningful quantities of seafood so far. Given BlueNalu's ambitious timeline, its commercial success will hinge on the construction of its pilot-scale facility alongside timely regulatory approval.

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